In a note to clients Monday, Piper Jaffray’s Gene Munster reports that Apple “has assembled its own team of virtual and augmented reality engineers and is ‘exploring the [augmented reality] space,'” Philip Elmer-DeWitt reports for Fortune.

“His evidence: Apple spent $32 million in March to acquire the engineering team at Metaio, a software company with dozens of virtual reality patents,” P.E.D. reports. “In late 2013 Apple acquired PrimeSense for $345 million. Its engineers are best known for designing the first motion sensors for Microsoft’s Xbox Kinect. Apple has hired an unnamed expert that Munster describes as the lead audio engineer from Microsoft’s Hololens project, which alters the direction sounds seem to come from depending on how you turn your head.”

While augmented reality is likely 10 years away from broader consumer adoption, we believe it has the potential to be as profound a technology platform as the smartphone today. — Piper Jaffray analyst Gene Munster

Apple is going to lose out by staying too quiet or waiting too long on saying anything about this. Macs won’t run Oculus Rift (no Mac has a desktop grade GPU optimized for gaming to meet minimum requirements), so I am being forced into possibly dropping a few grand on an Origin PC running Skylake 4GHz i7 running dual GTX 980ti’s.

If Apple has something planned I would wait. And by “wait” I mean I would still drop $980 building a bare minimum PC so I can still play Oculus Rift while I wait for Apple’s VR, my PC just would not be future proofed whatsoever.

But the point is, I am deeply integrated into the Apple ecosystem. I have only Apple devices and have not owned a PC at all since 2009. I hate the idea of getting a PC, but am considering it out of necessity to not miss out on VR.

VR is about to change the world in 2016 just as much as the iPhone changed the world in 2007.